HP, EMC & Cisco Terminate 30,300 Jobs Globally

HP,
EMC & Cisco Terminate 30,300 Jobs Globally

Massive
Unemployment Continues to Build as Fortune 500 Companies Terminate 30,300 Jobs
over 12 Months

Special
Report

Hewlett-Packard
Co. HPQ +1.70%
is laying off 27,000 workers as part of a massive restructuring plan to stem its
declining profits and revenues, underlining the growing gulf between the
technology industry’s old guard and new generation.

H-P said the job cuts,
which amount to about 8% of its workforce, will take place over the next two
years. It projects the move, once complete, will save $3 billion to $3.5
billion annually, with most of the savings going to fund new efforts such as
cloud computing and “big data” analytics.

Hewlett-Packard is
laying off 27,000 workers as part of a restructuring plan to stem falling
profits and revenues with savings going to fund new efforts such as cloud
computing and “big data” analytics. Photo: Reuters

The technology giant
outlined its restructuring plan as it posted a 31% profit drop and a 3% revenue
decline for its fiscal second quarter. 

Looking at the recent
announcements of EMC and Cisco, whose combined 3, 300 terminated jobs indicate
that the giants are now beginning to fail – quoting from the WSJ.com article:

The companies’
declines are unfolding even as tech spending is expected to grow this year.
According to research company Gartner, world-wide tech spending is expected
to rise 2.5% in 2012 to $3.8 trillion.

The EMC combined layoffs
include VMware,
acquired by EMC Corporation in 2004 for $625 million.^[11] EMC
announced a total of 1,000 employees as stated in the article EMC lays off more than 1,000 as restructuring continues  at
ComputerWorld.com on May 8, 2013 03:08 PM ET

Cisco, another Fortune 500 corporation, announced March 27, 2013 that they
planned on laying of 500 employees, as explained in a NetworkWorld.com article
by Jim Duffy – posted March 27, 2013 04:32 PM ET

Network World – Cisco this
week reduced its workforce by about 500 people as the company realigns to face
the advent of software-defined networking, cloud computing and its impact on routing and switching.

“We routinely review
our business to determine where we need to align investments based on growth
opportunities,” a Cisco spokesperson stated in an e-mail to Network World
today. “Yesterday, Cisco performed a limited restructuring that will impact
less than 1 percent of our population globally. These actions are subject to
local legal requirements, including consultation, where required.”

Sources say officials
involved in Cisco’s alliance with EMC and other data
center business development initiatives have been affected. Cisco would not
confirm that.

The progressive
collapse of the technology industry forebodes extremely bad times ahead, as
Technology is one of the remaining sectors of the global economy that is the
strongest. Nevertheless, this disintegration continues to unfold and signals
tough times ahead.

Intellihub.com is planning an Intelligence
Briefing on U.S. & Global Employment 2000 to 2015. Researchers who
would like to participate in researching the Global Economy can send an email
to [email protected]

NESARA- Restore America – Galactic News